News stories from Tuesday June 13, 1972

Summaries of the stories the major media outlets considered to be of particular importance on this date:

In South Vietnam, the two-month battle for An Loc may be nearing an end. However, the Communists attacked refugees who were leaving An Loc on Highway 13 and scattered fighting continues in the city. Helicopters evacuate the dead and wounded and bring in reinforcements. An Loc is in ruins after the long siege, but the men of South Vietnam's 5th Division hang on, living in bunkers with little food. [CBS] American bombing continued in North Vietnam, hitting an oil storage facility near Vinh and railroad bridges northeast of Hanoi near China. [CBS] Israeli and Egyptian planes fought, each country claiming to have downed two of the other's planes. [CBS] The House Foreign Affairs Committee endorsed President Nixon's Vietnam peace offer, but the resolution passed by only one vote, 19 to 18. Some want Congress to order an end to the war. [CBS] President Nixon asked Congress for early approval of the U.S-Soviet Strategic Arms Limitation Talks (SALT) treaty. He revealed some details of the nuclear arms limitation agreement which previously had been withheld. The Soviets are limited on defensive missiles, but the U.S. gets fewer offensive missiles. There was no agreement on nuclear missile-launching submarines. The President stated that the agreements are in the best security interests of America. Quick approval is expected. [CBS] The Senate included a cutoff of military aid to Pakistan and India in the foreign aid bill. [CBS] An international study reports that Russia is ahead of the U.S. in the sale of arms to emerging nations. [CBS] Lithuania is one of three Baltic republics which was invaded and annexed by Russia 32 years ago. Demonstrations erupted today in Kaunas during the funeral of a young man who burned himself to death for political reasons. [CBS] The militant provisional wing of the Irish Republican Army offered to end its violence if Britain agrees to end arrests and arms searches. William Whitelaw, the British Secretary of State for Northern Ireland, rejected the offer as being an ultimatum from terrorists. Gunfights and bus hijackings were reported in Belfast. [CBS] Cloud-seeding experiments near Rapid City, South Dakota preceded the recent flood. South Dakota Governor Richard Kneip is requesting a full report; preliminary reports show that the seeding had no effect on the devastating flood. The death toll has reached 200. [CBS] An American Airlines plane made an emergency landing in Detroit after a bomb was thought to have gone off. A cargo door accidentally opened, causing decompression, and a coffin fell from the plane. Captain Bryce McCormick managed to land the plane despite many of the controls being inoperative. [CBS] Things are different at this year's convention of Texas Democrats in San Antonio. John Connally is backing Richard Nixon; Lyndon Johnson is convalescing at his ranch. Gloria Cardenas typifies the new Texas convention, being a Mexican-American woman under the age of 30 and part of the Democrat party's "reform" process. Cardenas says that she is happy to have a voice in party affairs at last. The Texas delegation to the Democratic national convention will probably consist of 33% for Wallace, 28% McGovern, 16% Humphrey, and 22% uncommitted. [CBS] So far in congressional primaries, five representatives and one senator have lost their seats. Arkansas Senator John McClellan is in danger of joining the list after being forced into a runoff with Rep. David Pryor. [CBS] The Senate Finance Committee completed work on the Social Security bill and boosted benefits 10%. Chairman Russell Long predicted that the bill won't reach the Senate floor for debate until after the Democratic national convention. The bill also alters the welfare and Medicare programs. [CBS] An admitted "fixer" of horse races testified before a congressional committee. A man calling himself "Bobby Byrne" described how races are fixed. He said that jockeys and trainers are bribed or threatened with violence to get them to throw races. Byrne admitted that he drugged several horses to slow them, while betting on others. He stated that organized crime has a hand in the racing business. [CBS] At the United Nations Conference on the Human Environment in Stockholm, the Chinese delegation urged the conference to declare the U.S. and the Soviet Union as being polluters of the environment in less-developed nations. The committee, which is working on a major statement on the environment, is coming closer to an agreement; a new United Nations agency may be created. [CBS] A revival of religious fervor among American youth is taking place, as 100,000 people have descended on Dallas for "Explo '72", a week-long international student conference on evangelism. Many are staying in a tent city. Mass meetings will be held at the Cotton Bowl, and the grand finale will be a seven-hour Christian music festival. Reverend Billy Graham called the gathering great and historic. [CBS]

Stock Market Report

Dow Jones Industrial Average: 938.29 (+1.58, +0.17%)
S&P Composite: 107.55 (+0.54, +0.50%)
Arms Index: 0.84

	Issues	Volume*
Advances	683	7.51
Declines	684	6.31
Unchanged	380	1.89
Total Volume		15.71

* in millions of shares

Arms Index is the ratio of volume per declining issue to volume per advancing issue; a figure below 1.0 is bullish.

Market Index Trends
Date	DJIA	S&P	Volume*
June 12, 1972	936.71	107.01	13.39
June 9, 1972	934.45	106.86	12.79
June 8, 1972	941.30	107.28	13.82
June 7, 1972	944.08	107.65	0.00
June 6, 1972	951.46	108.21	15.98
June 5, 1972	954.39	108.82	13.45
June 2, 1972	961.39	109.73	15.40
June 1, 1972	960.72	109.69	14.91
May 31, 1972	960.72	109.53	15.23
May 30, 1972	971.18	110.35	15.81